Ben Askren Etoro – Ask Mary

We get htis a lot on our site the answer to Ben Askren Etoro….Questions that i speak with new investors what if you’re brand new to investing you just don’t want to choose what you in fact wish to invest and you want someone to do it for you there’s just a couple of manner ins which that can take place the first of all you can hire a financial investment portfolio manager they’ll usually charge a quite a high premium to do that perhaps a couple of percent of your profits will go to them the other thing is naturally you can buy mutual funds specific funds are created again with an account supervisor in the background as i’m going to cover in this video they have a service though that’s called copy trading copy portfolios as well now if you’re brand new to an overall please remember this platform is rather advanced you can do cfds which of course cfds are methods of investing

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with not really having the full amount of capital so with anything that you’re discovering please do study the platform don’t simply assume since i utilize it that you can utilize it immediately do some due diligence have a little play around with it even invest with virtual money they consider that choice too so you really get used to the structure of the website and after that when you’re ready to utilize your own cash to invest you can do so now i will disclaim naturally your capital is at danger this is investing we’re doing you’re buying genuine business if you select to in this particular video we’re speaking about how to copy other people’s financial investments with your money so undoubtedly your capital is at danger and we need to bear that in mind do not simply do something since that person has actually said they have actually made earnings 14 months in a row buy these options due to the fact that you think is the ideal ones for you which being said let’s dive directly in [Music] The things we’re going to cover in this video is comprehending what is copy trading what are copy portfolios it’s part of social trading which is one aspect that is probably.

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popular for it’s the choice to see what other traders are doing incredible we do not usually get that insight from a lot of platforms and the other benefit is these copy portfolios are copy trading therefore that suggests with our money we can actually say i want to do precisely what that trader is doing or match that specific portfolio of choices and basically whenever they make a trade they buy they offer whatever they do your money will be imitated with it so that implies if for example 10 of their investment portfolio is in tesla guess what you’ll now be investing 10 of your money in so we’re going to also cover is the costs involved truly crucial you understand what are the costs of this now with any platform there will be some expense to certainly these are genuine companies that are investing they’re doing the buying the selling for you there’s going to be charges involved and even a few of the absolutely no cost websites then may not charge you for actually buying and selling etfs or funds private products specific stocks.

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there’ll be charges on other parts maybe it’s our fx rate when you’re altering from uk to u.s dollars there’s all type of fees associated so do your due diligence and i’m going to show you the fees with in particular in this video the next would be things to understand before you really start buying copy trading or copy portfolios and finally some finest suggestions best practices if you are thinking about this as a tool whether you begin your journey or your advanced financier so let’s kick off with charges really important to understand these now on there’s a number of fees there isn’t charges to do with in fact buying and selling okay so commission charges are free however there are a couple of other fees the very first one is withdrawal fees so you can undoubtedly put money in now if you remain in the uk we put our uk cash.

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and it’s instantly converted into us dollars and i’ll cover a little point about that later however when you want to withdraw your money so you offer your shares you sell your products whatever you’re selling the minimum quantity you can withdraw is thirty dollars back out and they do charge you 5 dollars per withdrawal so for me of course understanding that i’m going to ensure that i’m just withdrawing when i absolutely need to now you may state all right that’s rather expensive and i get that but it’s all to do with how they run their platform they need to charge fees someplace and withdrawal costs are simply one of those alternatives that they have a great deal of platforms certainly are totally free to do such things has this five dollar charge so in my eyes make your withdrawals mainly it can be perhaps even once a year when every 6 months you understand depends entirely how you’re investing but that is a fee to remember the second charge that i have actually touched upon is that conversion fee now with you’re dealing in us dollars just there’s not a choice to purchase in euros or uk and that’s fine that fits me.

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a great deal of my stocks are us dollar stocks anyhow or the etfs that i’m buying or even some crypto so i’m good with that we have what’s called the fx currency conversion charge now when you utilize anyone so if you’re using trading 2 and two free trade anybody this is basic they have actually i expect stuck with whatever fee they charge for that conversion rate you kind of have to accept you know if you wish to utilize their platform go from uk to us then that conversion fee is there what are they in fact providing you in terms of your uk pounds to us dollars and all platforms are the same you can’t bargain with them you can’t go to the bank and state offer me us dollars instead you need to pay their charges now the great feature of however when you’ve converted your money you do not need to invest it right away that dollar worth can being in your portfolio as money dollars for as long as you like so that means the initial day that you purchase or convert your dollars is the only charge that happens now with copy trading and copy portfolios there aren’t any additional fees so that’s truly good using that part of their website won’t certainly restrict you in any way however we need to understand 2 other charges the very first being what’s called spread charges all right and i’m going to show you what i indicate on now a spread fee as i’m going to reveal you

on is generally the distinction that is part of the financial investment platform in between the buy cost and the sale price alright it’s their premium on doing both those two actions now tesla if you can see on this part of the site today tesla’s dollar worth 599 per share in tesla that really means that when you want to purchase or offer as you can see it’s not the cost you’re seeing up here let me show you that again so the present price of tesla is the worth of a share what’s called spread fees is the difference then actually to buy that share on the platform and you’ll discover this all over this is another way that they make a small amount of make money from you each time you do a buyer’s share so keep that in mind obviously it’s more pricey to buy than it is to offer so they’re going to provide you less back with your sale and you say okay well why does that happen it simply does that is the nature of a lot of platforms out there there’s a difference between if you’re buying it then you want to offer it and that is how they make a bit of cash on those spread out costs it’s usually incredibly small it could be a matter of pens matter of cents in there but that’s one place every investment company will again make a little bit money now the last accomplishment is called an

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over night cost now this is truly essential if you’re actually utilizing cfds yourself as well an overnight fee is when you’re refraining from doing that buy offer transaction in the same day alright there’s then an over night charge charged or even if you go from the friday to the monday prior to cruising a weekend charge now this only applies to cfds so if you’re actually buying out the etf the stock the product and utilizing time one take advantage of which indicates you’re actually purchasing the exact asset instead of using utilize anyway you won’t get hit with these fees however these fees are if you’re using take advantage of and cfds and then you’re going to have these costs if you’re not buy offering in the very same day so let’s state if you enter into the help section this isn’t the overnight charges details you can see precisely the breakdown and it’ll tell you what are the charges what are the charges then for when you’re doing over night or you’re doing over weekends which only uses as i stated to cfds there are some service charges of course depending on what you are buying as well this is on your own so keep that in mind however full fees are entirely within their aid info all right and we spoke about as well as free to deposit in but there’s a five dollar charge if you wish to withdraw from anything whether it’s been cfds normal product stock shares everything there’s that 5 dollar withdrawal cost now another thing to call it as i’ve stated copy trading and copy portfolios are two different methods of actually using these copy functions they don’t have any additional costs on top of the typical fees that

are there now what you need to bear in mind though is these possibly handled by other individuals completely or often have produced portfolios you’ve got a genuine individual doing the management you need to make certain you choose the individual that’s right for you similar to any line of work this is your financial properties so we absolutely require to make certain it’s the right individual for us prior to we copy them so the first things i would call it if you do wish to utilize this function we have actually got a couple of different choices for us to start with if you’re brand new to investing i want to draw your attention to this within you have the option to invest genuine money or a virtual platform virtual methods i think you get yep a hundred thousand dollars to play with and it’s not real money that you’re investing you won’t need to put in your credit card information or anything you can basically have this virtual portfolio simulate as if you are using your own money but in fact buy pretend buy copy people whatever you like if you’re not

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feeling comfy with using your real cash possibly this is a fantastic choice for you once again to test the theories alright you may want to buy tesla or apple or this etf why not utilize the virtual alternative as a method to kind of safe play with it undoubtedly you may have missed out on gains and losses during that time obviously if you had invested your real cash it permits you to build confidence understand the platform so that’s one option for you then next week and i’m going to return to my real portfolio here now we’re going to deep dive in fact how to copy individuals and copy portfolios now here’s something to remember before you choose someone that you’re going to copy or a portfolio you’re going to copy make certain you understand what your danger profile is now what do i imply by that clearly for me i’m investing long term and they tend to state the longer you’re leaving your financial investments the riskier you can be risk simply means am i okay with possibly losing a great amount of this investment or gaining as

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well now keep in mind whatever is downs and ups you will make money you’ll lose cash that’s why they make the fact 75 people will lose cash but that similarly implies they’ll lose at some point in their journey clearly individuals do make money also and i have actually got videos all about how you can make certain you’re one of individuals to actually make money however in this situation make certain you research your danger level would you be alright giving your money to someone else which is effectively what you’re doing and trusting them make certain you understand what they’re purchasing completely if you’re somebody who isn’t wishing to be that dangerous do not pick someone who’s totally into crypto or currency conversion consider it you ‘d probably want a backbone of strong products

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like gold or perhaps oil plus more traditional etfs and index funds you might not desire some up-and-coming single stocks in your portfolio do the exact same with who you’re following now as i state you can in fact utilize this too actually easily over here you can copy people now it will give you a great deal of options and you can use the system to in fact search for somebody that you elegant actually following so let’s see maybe we want someone from joined kingdom um who invests in let’s see who does etfs they’ve gotten at least 10 yeah that sounds fair that sounds an excellent quantity and i can discover everyone who has met that criteria and it does offer you a risk element too so it tends to be the higher the number the more riskier they are with their stock investing now certainly there are a number of people that have rather high returns

remember it resembles anything to do with the news or predictions of the future this does not indicate somebody will make 56 for you for the next 12 months they might make 4 or minus 50 there’s no chance to ensure so do keep that in mind and as basic as clicking the copy button and off you go and after that you know ask you to validate are you fine with this and off you go now another way to really deep dive if we click on this person for example ruby mza as an example you can actually deep dive into what is she in fact investing in so let’s enter into portfolio and you can see she’s quite heavy into microsoft mastercard amazon she likes her tech a little bit so that’s excellent to know ibm paypal yep she’s definitely like type of into those blue box and the tech industry she’s got some of mine actually that i invest in too which is great so in fact for me understanding what i like to purchase my specific stocks and shares she would resonate with me she’s got a good spread in tech companies that seems to be what she chooses she’s likewise got a little bit more um of the kind of main food companies and you have actually got you understand pharmaceutical and production companies as that. Ben Askren Etoro.

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